China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.89 and traded as high as $4.58. China Automotive Systems shares last traded at $4.41, with a volume of 82,472 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of China Automotive Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 14th.
Get Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Trading Down 3.6 %
The firm has a 50-day simple moving average of $4.18 and a two-hundred day simple moving average of $3.89. The company has a market capitalization of $128.31 million, a price-to-earnings ratio of 3.60 and a beta of 2.45.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last issued its earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share for the quarter. The company had revenue of $158.61 million for the quarter. China Automotive Systems had a return on equity of 9.50% and a net margin of 6.02%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CAAS. Renaissance Technologies LLC boosted its stake in China Automotive Systems by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company's stock valued at $1,491,000 after purchasing an additional 6,900 shares during the period. Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company's stock worth $629,000 after buying an additional 6,968 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in China Automotive Systems by 14.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company's stock valued at $401,000 after purchasing an additional 11,197 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in China Automotive Systems during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 5.17% of the company's stock.
About China Automotive Systems
(
Get Free Report)
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.
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